Tuesday, September 26, 2017

In Saudi Arabia unexpected reshuffle

In Saudi Arabia - an unexpected reshuffle, but the oil still falls

Yesterday
all of a sudden the king of Saudi
Arabia, Salman withdrew from his younger
half-brother Crown Prince title
and appointed in his place his own
nephew. The next heir after
in line to the throne Salman put
his own son, Prince Mohammed
bin Salman. Then the aged king
I sent in the resignation of the Minister of Foreign
Minister, Prince Saud al-Faisal, who,
at the moment, it has been in office for 40
years. Instead, it's foreign policy
State will former ambassador
kingdom in Washington, Adel
Al-Dzhubeyr.


appointed
Salman and several other new
Ministers. But the veteran oil wars,
79-year-old Ali al-Naimi, remained in his
place. Perhaps that is why so
abrupt changes in power are not affected
the state of the oil market. It seemed
would then Brent should
I would rush forward, but do not
It happened.


TO
8.52 MSK June futures for Brent
worth 64.52 dollars per barrel, WTI
June delivery - 56,95 dollars per
barrel. Prices have not changed
yesterday as traders are reluctant to
occupy new positions until it becomes
clear what effect the permutation in
Saudi authorities on policy.


AT
its quarterly review commodity
Markets, issued today, Barclays
writes: "In spite of the 45% solution of a rise in prices
Oil from the January lows, we expect
in front of a large volatility. That
However, supply growth in many markets
It is still too fast, and powerful
dollar and high stock position
markets will likely put pressure on
oil prices in the future. "



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